- This topic has 3 replies, 2 voices, and was last updated 1 year, 3 months ago by
hquer.
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geecommentsCurious, what will happen to Matic’s ERC tokens once they start burning coins?I hold some Matic in Coinbase just wondering what will happen to them.
hquerInteresting; would like to hear that too
Hefty-Gold-1291nothing will happen to them, they will sit in your wallet.
gjhgjhCoins in wallets that aren’t being sent anywhere and won’t be burned. The coins that are being burned are the ones that you pay to make a transaction called the gas fee. Instead of all of the coins going to those who are staking Matic most will still go those staking and a small percentage will go to a developer wallet where they will either be used to improve the protocol or be sent on to a burn address.
When you send your coins off Coinbase they pass these gas fees on to you. You don’t pay a fee to transfer coins on Coinbase because the transfer is handled “in house.” No gas fees are generated because “in house” transfers don’t happen on the blockchain. So there are no fees to pass on to you.
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